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Technology ArticleEdsel Motors The Edsel was a marquee division of Ford Motor Company during the 1958, 1959 and 1960 model years. Ford announced the end of the Edsel program on Thursday, November 19, 1959. However, cars continued being produced until late in November, with the final tally at 2,846 1960 models. Total sales were approximately 84,000, less than half McNamara's projected break-even point. The company lost $350 million on the venture . On Friday, November 20, United Press International's (UPI) wire service reported that book values for used Edsels had decreased by as much as $400 [approximately $2800 in 2006 dollars] (based on condition and age) immediately following the Ford press release. In some newspaper markets, dealers scrambled to renegotiate newspaper advertising contracts involving the 1960 Edsel models, while others dropped the name from their dealership's advertising "slugs." Ford issued a statement that it would distribute coupons to consumers who purchased 1960 models (and carryover 1959 models) prior to the announcement, valued at $300 to $400 towards the purchase of new Ford products to offset the decreased values. The company also issued credits to dealers for stock unsold or received, following the announcement. Wikipedia Disclaimer Above information is from wikipedia and is freely distributed under the GNU license Also See: All Articles |